Eli Lilly posts 1Q profit, results beat Wall Street estimates

MarketsAssociated Press

Eli Lilly and Co. (LLY) on Thursday reported first-quarter net income of $529.5 million.

On a per-share basis, the Indianapolis-based company said it had net income of 50 cents. Earnings, adjusted for non-recurring costs and amortization costs, were 87 cents per share.

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The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.

The drugmaker posted revenue of $4.64 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $4.62 billion.

Lilly expects full-year earnings in the range of $3.10 to $3.20 per share, with revenue in the range of $19.5 billion to $20 billion.

Lilly shares have climbed roughly 5 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 2 percent. The stock has climbed 20 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LLY at http://www.zacks.com/ap/LLY

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Keywords: Eli Lilly, Earnings Report